LOUISVILLE – The Kentucky Derby at Churchill Downs made history once again, but this time it was on the racetrack rather than at the betting windows.
Officials reported that the first leg of the Triple Crown garnered $225 million in bets, marking the second-highest total in the event's history, although it represented a 3.8% decrease from last year's record of $234 million.
The reduction in betting for the Kentucky Derby coincided with an overall drop of $9 million in wagers for the day. The total of $340 million bet across the 14 races was only surpassed by last year's $349 million.
A total of 150,415 fans filled the venue for the 152nd Kentucky Derby, which was won by Golden Tempo. Notably, trainer Cherie DeVaux made history as the first female trainer to lead a Derby winner, with Golden Tempo finishing just ahead of Renegade, co-owned by Mike Repole.
One factor contributing to the decline in betting this year was the last-minute scratching of Great White, who flipped over as the horses were being loaded into the gate. His odds were comparable to those of Golden Tempo, resulting in millions of dollars in refunds, and many bettors who backed Great White likely missed the chance to place another bet before the race began.
This marked the first time since 2021 that the Derby did not set a new handle record, a year when attendance was limited due to COVID-19 restrictions.
Primetime Oaks Move Pays Off
While the Derby handle fell short of a new record, the Kentucky Oaks card held on Friday did achieve this feat. According to Ed DeRosa from Horse Racing Nation, the track recorded an $88.5 million handle for the 13 races, a 17.5% increase from the previous year's $75.3 million.
This year's Kentucky Oaks, a premier race for three-year-old fillies, was rescheduled to a primetime 8:40 p.m. ET start, a shift from its traditional early evening time. This decision sparked discontent among local restaurants, who feared it would negatively impact their business on what is typically one of their busiest days.
Churchill Downs reported an attendance of 103,290 on Friday, although many patrons left before the Oaks to dine or attend the various Derby Eve events happening in Louisville.
Despite the early departures, the later start time attracted a larger national audience, allowing more viewers to watch the race on television. With many people off work at the race's start, this likely contributed to the record-setting handle.
Although locals may not favor the later Oaks start, the impressive handle suggests that this primetime schedule may become a permanent fixture.
Oaks and Sunday Cards Boost Derby Week Handle
The increase in Oaks betting also led to a record handle for Derby Week overall. Churchill Downs officials announced that bettors placed $487 million in wagers, an increase of $13 million from last year's record.
In addition to the rise in Oaks betting, Churchill Downs introduced a Sunday racing card, bringing the total to seven cards over the eight-day period.
The company also revealed that TwinSpires, its online betting platform, achieved a record $129 million in Derby Week wagers, a $7 million increase from the previous record set last year.
Of the $129 million, $89 million was wagered on Derby Day races, with $57 million placed on the Derby through the advance-deposit wagering platform.
In a press release detailing the handle totals, the company expressed optimism that Derby Week activities would yield a record EBITDA and projected a potential increase of up to $18 million by 2025.
Churchill Secures Derby Contracts from Polymarket
In another success for Churchill Downs, the company announced that it successfully compelled Polymarket to terminate the Derby contracts available on its prediction market platform.